The bankruptcy trustee for MF Global Canada Co.’s reports that account transfers have begun, but will likely take some time to complete.
KPMG Inc. says that the transfer of MF Global customers who transacted in futures, equity and fixed income positions began Monday, Nov. 14, but that due to the volume of accounts being transferred, it will take a couple of days to transfer all of the accounts included in the bulk transfer agreement to RBC Dominion Securities Inc.
RBC DS to take over client accounts of MF Global Canada
KPMG says that, based upon the contact information in the books and records of MF Global, RBC DS will begin contacting clients this week, and working with them to expedite access to their accounts.
Clients that have not heard from an RBC representative by Friday, Nov. 18, are asked to contact KPMG.